Assa Abloy: sells Singapore-based semiconductor unit.
(CercleFinance.com) - Swedish engineering group Assa Abloy has sold its semiconductor unit AdvanIDe to a Singapore-based company in a transaction that will have a positive impact on its operating margin, although will be neutral in terms of EPS.
The Stockholm-based company said that the transaction will lead to growth opportunities for AdvanIDe, which were considered as "limited" within the group.
Headquartered in Singapore, AdvanIDe focuses on components such as RFID transponders, chip cards, RFID readers and terminals. It employs 56 people and expects 2017 sales of about 150 million dollars.
The financial terms of the deal were not disclosed.
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